OBM 2.56% 40.0¢ ora banda mining ltd

Ann: Ora Banda Launches up to $20M Equity Raising, page-69

  1. 2,444 Posts.
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    I lost $22k when I sold around the $0.10c mark.

    I am definitely not being insensitive to holders who are carrying losses, nor around the uncertainty of the company moving forward, but for people to say they were unaware of the issues, and they did due diligence is disingenuous or misleading at best.

    Prior to selling at a significant loss I submitted many posts to this forum with my concerns about the dire lack of grades in the ground being mined and the lack of action by management to address this.

    The lack of grades are the ONLY REASON the company is in the position it is in.

    If the ground was consistently producing 2.5g/t as we were led to believe, the the company would be making money and hitting the original 80k oz production guidance.

    The sad truth is the grades aren't there, and here we are with what is effectively the 4th raised in as many quarters (when factoring the sale of the lithium deposits).

    I also stated my belief that the positive result last quarter was due to the out performance of the Golden Eagle mine that also closed last quarter (its last quarter was its best).

    I believe the biggest issue in these threads is confirmation bias, where people who are presumable honest and well intentioned (as we never know the truth) paint one picture about the prospects of the company irrespective of the facts.

    Read any of my posts in the last 6 months and try and tell me that people were not warned of the issues and prospects.

    Last edited by thecrabpest: 23/02/22
 
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